Feb 2022 Update
February 2022 was… eventful, to say the least. Amidst inflation fears, interest rate hikes, and the looming war, it has been a trying time for everyone around the world.
Despite this, the Pendle team has kept our heads up and pushed ahead with our ventures, leading to a few exciting developments in the past month.
Our partnership with the [Redacted] Cartel is likely the biggest highlight of February for us. It was our pleasure to work with a well-established and experienced team, and our hard work has already bore some fruit.
Shortly after launch, the Pendle TVL for wxBTRFLY has hit $600K!
With updates in the wxBTRFLY rebase index coming up soon, our TVL and trading volume is expected to go up as holders speculate on the yield fluctuations. We can’t wait to see the big-brain strategies you guys come up with to maximise your wxBTRFLY yields!
Gas Optimisations for Ethereum
After the Avalanche launch in November, much of our devs’ attention has been focused on developing and maintaining our Avalanche protocol. But with things calming down on that end, we have returned our sights to Ethereum with some major QOL upgrades for LPers.
The incentives distribution mechanism for LPing in YT and OT pools has been streamlined and simplified, eliminating the staking and vesting mechanism in order to cut down on gas usage.
Thanks to this, you can say goodbye to exorbitant gas fees on Ethereum when collecting $PENDLE incentives in the future.
This upgrade also comes along with some changes to our emissions structure, as we wean off the incentives for mature pools in order to incentivise newer pools, such as wxBTRFLY and other assets (coming soon!).
There’s a long road map ahead for $PENDLE token utility, but that’s still a while away. For now, the team is focusing on deepening liquidity to reduce slippage when trading.
Pe,P and Pa,P are currently our main avenues of incentivising $PENDLE liquidity. To further this effect, we are also considering launching traditional Pool2 incentives.
Finally, our landing page has been given a fresh coat of paint, complete with 3D animations and interactive elements, courtesy of our resident designer. Take a look! https://www.pendle.finance/
Stay tuned for updates as we lay out our long term roadmap and vision for Pendle, including more details about Pendle v2, as well as more utility for the $PENDLE token!